JPMorgan-advised IIF gets 95% of Italys Falck Renewables

div classBodysc17zpet90 cdBBJodivpMILAN Reuters – Infrastructure Investment Fund IIF, a fund advised by JPMorgan, on Tuesday completed its takeover of Falck Renewables by securing more than 95 of the Italian green energy group following a buyout offer. p

pIIF had bought a 60 stake in Falck Renewables from the eponymous family of steel magnates, paying 8.81 euros a share. It had gone on to launch a buyout offer at the same price on the remaining 40, offering a 29 premium on the average price of the stock over the previous three months. pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe tender offer ended on Tuesday handing IIF‘s investment vehicle Green Bid 79.55 of the shares targeted by the bid, a statement by Italy’s Borsa Italiana showed. p

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pp Reporting by Giulia Segreti and Gianluca Semeraro, editing by Valentina Zap

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